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Dec 5, 2012
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he insists he will veto any bill not including tax increases on wealthier americans. >>> the defense department started planning for the roughly $500 billion in personnel cuts. the pin is not talking to the defense contractors of public plans. >>> the council made it clear that it's not following the mayor's lead on several issues. it was evident last night during a 13-hour meeting. the council voted against several bills. matt has more. >> reporter: the mayor appears to be concerned about the budget when it comes to a number of bills passed by the council yesterday and one thing that could put a hole is the plan by the council to lower speed camera fines. it passed last night and even though the mayor said the cameras are about safety, not mean, they generate a lot -- not money, they generate a lot of revenue and they could be close to $100 million the next four years. the mayor claims in total, the council passed bills to reduce the city's funding by $350 million that is over the next four years. the chairman of the council said the changes were important and they will be worked in
he insists he will veto any bill not including tax increases on wealthier americans. >>> the defense department started planning for the roughly $500 billion in personnel cuts. the pin is not talking to the defense contractors of public plans. >>> the council made it clear that it's not following the mayor's lead on several issues. it was evident last night during a 13-hour meeting. the council voted against several bills. matt has more. >> reporter: the mayor appears to...
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Dec 6, 2012
12/12
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that is a big tax increase. >> reporter: and deep across the board spending cuts in defense and other areas of the federal government. >> the plans that the white house has talked about thus far, they couldn't pass either house of the congress. >> reporter: president obama says he will not sign a bill without a tax increase on incomes over $250,000. he met with a room full of ceos in washington today. >> i know that many of you have come down here to try to see, there a way we with break through the logjam and go ahead and get things done. and i'm here to tell you that nobody wants to get this done more than me. >> reporter: and yet house speaker john boehner says the president hat not responded to republicans' latest proposal. >> that offer included significant spending cuts and reforms and it included additional revenue. and frankly, it was the balanced approach that the president has been asking for. >> reporter: perhaps the boehner-obama phone call has moved things along. >> there is lots of activity looking at options. what we don't have is a meeting of the mind. this will requir
that is a big tax increase. >> reporter: and deep across the board spending cuts in defense and other areas of the federal government. >> the plans that the white house has talked about thus far, they couldn't pass either house of the congress. >> reporter: president obama says he will not sign a bill without a tax increase on incomes over $250,000. he met with a room full of ceos in washington today. >> i know that many of you have come down here to try to see, there a...
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Dec 5, 2012
12/12
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CSPAN
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tax. every state around hampshire had one or the other. in the 1960's, and every state added another one, either the sales tax or the income tax. within hesitation of their people that the other tax would come out and the revenue would be used because it will be more effective in collecting it. every one of those states, the revenues have gone down, the income tax has gone up, and the size of government has gone up. from my standpoint, a value- added tax is just a way to grossly expand the size of the government, and it does not fix our revenue problems. more importantly than that, just the point where i think this argument ends up, the american people would annihilate any party that passed a national sales tax rate. if the democratic party thinks they are in charge now, and they are, and the republican party has done some things to marginalize itself, but if you want to resurrect a republican party, give me a value-added tax. >> let's take the value-added tax off the table for this the se
tax. every state around hampshire had one or the other. in the 1960's, and every state added another one, either the sales tax or the income tax. within hesitation of their people that the other tax would come out and the revenue would be used because it will be more effective in collecting it. every one of those states, the revenues have gone down, the income tax has gone up, and the size of government has gone up. from my standpoint, a value- added tax is just a way to grossly expand the size...
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Dec 6, 2012
12/12
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spending plan before mandatory cuts in government spending and tax increase goes into effect in less than a month. maryland congressman chris van hollen says he thinks there's only a 50/50 chance a compromise will be reached by the looming end of the year deadline. >> i hope we can come together. it's important to avoid the fiscal cliff. it's also important to do it the right way. >> doing it the right way obviously depends who you're speaking to. i asked maryland democrat chris van hollen, ranking member on the house budget committee, what happens if the white house and republicans in congress cannot reach a deal by january 1st? >> it doesn't necessarily mean january 2nd, you know, the world falls apart, brought it does mean is if you go into january, you know, deeply into january without having resolved these issues, taxes will go up across the board on everybody. that's a big tax increase. >> and deep across the board spending cuts in defense and other areas of the federal government. >> if you look at the plans that the white house has talked about thus far, they couldn't pass ei
spending plan before mandatory cuts in government spending and tax increase goes into effect in less than a month. maryland congressman chris van hollen says he thinks there's only a 50/50 chance a compromise will be reached by the looming end of the year deadline. >> i hope we can come together. it's important to avoid the fiscal cliff. it's also important to do it the right way. >> doing it the right way obviously depends who you're speaking to. i asked maryland democrat chris van...
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Dec 6, 2012
12/12
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some say they will never support tax hikes but others are breaking with the leadership saying they will support the president's demand for an increase on rates on upper incomes. >>> new this morning, more support for a push to crack down on texting while driving in virginia. legislation is in the works that would classify texting behind the wheel as reckless driving. the virginia state crime commission has announced its support for the measure. it is not expected to be taken up until early next year. ext y >>> time now not morning line and everybody is talking about sunday's redskins-ravens game. redskins have lost the last two against baltimore. now, as far as the redskins injuries are concerned, london fletcher sat out of practice yesterday with an ankle injury and left tackle trent williams continues to nurse a deep thigh bruise. deangelo hall is in a boot but it is like lie all of them way play this weekend. back up cornerback cedric griffin is out for the season. he tested positive for adderall. the drug is a banned substance in the nfl. >>> now, sunday's game has set off a friendl
some say they will never support tax hikes but others are breaking with the leadership saying they will support the president's demand for an increase on rates on upper incomes. >>> new this morning, more support for a push to crack down on texting while driving in virginia. legislation is in the works that would classify texting behind the wheel as reckless driving. the virginia state crime commission has announced its support for the measure. it is not expected to be taken up until...
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Dec 6, 2012
12/12
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they are talking about what we have to do on taxes. somewhere along the line we have to talk about what we have to do on spending. if you do as the president asks and that is raise taxes on the top 2%, it funds the government for 8 days. you can't get there with just that. they are saying part of an overall deal. that's to include substantial spending cuts and particularly reforms and entitlements that is sure we can keep those programs alive in the years ahead. >> i want to ask both of you about tim gietner. is the white house ready to go over the fiscal cliff? and he said absolutely. is that digging in or a scare tactic? i was surprised to hear him say that. >> one of the biggest criticisms of president obama and the administration has been they tend to negotiate against themselves. i'm at this position and a week later i'm at this position. what he's trying to do is show their hardening their stance but in the end they will make a deal. it's hard to raise $1.6 trillion in revenues. most of the deals we've seen that were working were
they are talking about what we have to do on taxes. somewhere along the line we have to talk about what we have to do on spending. if you do as the president asks and that is raise taxes on the top 2%, it funds the government for 8 days. you can't get there with just that. they are saying part of an overall deal. that's to include substantial spending cuts and particularly reforms and entitlements that is sure we can keep those programs alive in the years ahead. >> i want to ask both of...
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why is the flat tax that are? >> we have to remember that our income tax system serves two purposes. one is to fund the operations of government. the other is to communicate to the voters the true coot of government. our current system performs the first function poorly because it produces a volatile inconsistent system. it deceives some americans into thinking that the government cost little or nothing. in fact, they pay for higher taxes on other brackets. it is paid for in terms of increased prices of goods and services and through unemployment and diminished wages. charles: i agree with you, once again. changing pace a little bit, monday night, representative john boehner asked several members of the tea party, the tea party getting a tremendous amount of negative press. a lot of people saying that if they are done, let's stick a fork in him. what would you say to those people? >> the fact is that this grassroots political movement that started in 2009 is not going anywhere. it has become a part of what the rep
why is the flat tax that are? >> we have to remember that our income tax system serves two purposes. one is to fund the operations of government. the other is to communicate to the voters the true coot of government. our current system performs the first function poorly because it produces a volatile inconsistent system. it deceives some americans into thinking that the government cost little or nothing. in fact, they pay for higher taxes on other brackets. it is paid for in terms of...
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Dec 6, 2012
12/12
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WUSA
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the current payroll tax cut is set to expire december 31st. in dollars and cents this means your payroll tax withholding is going from 4.2% to 6.2%. now why is this happening? many of the policies expiring at the end of the year like the payroll tax cut and emergency unemployment benefits were originally passed on a temporary basis. the thinking was that the economy would be in much better shape by now and the policies could expire without causing a recession. >> you can learn more any time at www.wusa9.com and on 9 news. this has been a 9 news fiscal cliff note. >>> sources tell the associated press president obama will ask the congress for $50 billion in the aftermath of superstorm sandy. now the late october storm was one of the worst to ever hit the northeast section of the country and out in crisfield, maryland, along the eastern shore there's plenty of debris out there. homeowners are still working to repair damage and waiting for any form of federal aid they can get. >>> one maryland community wants to take major action against a plant.
the current payroll tax cut is set to expire december 31st. in dollars and cents this means your payroll tax withholding is going from 4.2% to 6.2%. now why is this happening? many of the policies expiring at the end of the year like the payroll tax cut and emergency unemployment benefits were originally passed on a temporary basis. the thinking was that the economy would be in much better shape by now and the policies could expire without causing a recession. >> you can learn more any...
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Dec 2, 2012
12/12
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a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to vote on that same thing. and if we can just get a few house republicans on board, we can pass the bill in the house, its wi it will land on my desk, and i am ready. i've got a bunch of pens ready to sign this bill. >> and 30 minutes after the president was finished, john boehner held a press conference. he gave a pessimistic assessment of the negotiations. let's listen to mr. boehner. >> let's not kid ourselves. but when i come out the day after the election and make it clear that republicans will put revenue on the table
a tax cult for 98%. the rest of the people, let's listen to them. >> it's not acceptable to me and i don't think it's acceptable to you for a handful of republicans and congressman to hold tax cuts hostage simply because they don't want tax rates on folks to go up. right? that doesn't make sense? the senate has already pass add bill to keep the taxes from going up on the middle-class families. that's already passed the senate. you remember congress, they're ready to go, they're ready to...
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Dec 7, 2012
12/12
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CURRENT
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we don't want to pay higher taxes, but are willing to pay higher taxes as a program of shared sacrifice, which we think would make sense under the circumstances. >> eliot: and you also reject the premise of the entire republican argument, which is if you raise these tax rates margin ally on the so-called job creators somehow that will harm our economy. >> that's utterly ridiculous. first it's false imperically. we want through the analysis with bruce bartlett, who articulated them very well. as buffet pointed out in his op-ed piece taxes went up from 2000 when clinton was in and the second part of the reagan administration because of the imbalances created by the reagan tax cuts and we created 23 million jobs. by the same token, you know, the tax cuts to the wealthy were extended a number of times including by president obama under duress and starting in 2009 that create add boom in financial assets, but didn't produce many jobs. those are just anecdotal situations, but you can see there have been studies done including most recent one, which was suppressed by the republicans. >> eliot:
we don't want to pay higher taxes, but are willing to pay higher taxes as a program of shared sacrifice, which we think would make sense under the circumstances. >> eliot: and you also reject the premise of the entire republican argument, which is if you raise these tax rates margin ally on the so-called job creators somehow that will harm our economy. >> that's utterly ridiculous. first it's false imperically. we want through the analysis with bruce bartlett, who articulated them...
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Dec 4, 2012
12/12
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the republicans saying we'll never raise taxes. the problem is taxes are scheduled to go up. they can't say no to that. they will go up. the only real question for the obstructionists in the republican party is, seriously, you're going to block atax cut? that's what it is. >> i want to play some sound from our friend david gergen on cnn yesterday and get you to comment. >> since this election i think the democrats are the ones who are really trying to rub it in and almost humiliate the republicans, and that's not going to get to a bargain. i think it has to be win-win. you hear among some democrats right now and it's disturbing that maybe just ought to take it over the cliff. we'll score political points against the republicans and it will force our hands in the new year. that is a very, very dangerous, risky path. >> what do you think? are democrats more interested in humiliating republicans? do they really want a deal? for republicans, what's at stake here? what's the upside? what should the way forward be? >> i think both sides want a deal. if the economy tanks because we
the republicans saying we'll never raise taxes. the problem is taxes are scheduled to go up. they can't say no to that. they will go up. the only real question for the obstructionists in the republican party is, seriously, you're going to block atax cut? that's what it is. >> i want to play some sound from our friend david gergen on cnn yesterday and get you to comment. >> since this election i think the democrats are the ones who are really trying to rub it in and almost humiliate...
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Dec 2, 2012
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>> the tax increases in the president's plan? oh, yeah, absolutely. again, again, if you listen carefully to the political debate, there's very broad-based support now and recognition of the need to let rates go up. we think they should go back to the clinton level and bipartisan that with tax reform in limited deductions for wealthy americans. that's an essential parent of any balanced agreement. now, that's not enough. we think we can go beyond that and lock in some carefully designed savings that helps us go back to living within our means. and the president lad out a very detailed, comprehensive plan for how best to do that. he put on theitable it $16 billion in savings, and they're very detailed, and they're very well designed-- >> schieffer: what gives you reason for optimism. speaker boehner says this is basically a stalemate. >> it's true that we're still a bit apart. and they're going to have to move further, and they're trying to figure out, again, what they do next in this context. again, we've given them a very detailed set of proposals. w
>> the tax increases in the president's plan? oh, yeah, absolutely. again, again, if you listen carefully to the political debate, there's very broad-based support now and recognition of the need to let rates go up. we think they should go back to the clinton level and bipartisan that with tax reform in limited deductions for wealthy americans. that's an essential parent of any balanced agreement. now, that's not enough. we think we can go beyond that and lock in some carefully designed...
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Dec 3, 2012
12/12
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i'm offering 98% a tax cut of $2,000 a year. you are the party of lower taxes. are you going to refuse to cut people's tacks? >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> so you have been around this town a long time, you have been in a lot of negotiations, what is there game? what is their thinking as to how they are going to work their will? do they just figure they won, they are going to get what they want? >> i have no idea, chris. if i knew, i would share it with you but i don't think what they are thinking. >> do you think they are being bullies? >> i think they won the election, they must have forgotten that republicans continue to hold the majority in the house. but, you know, the president's idea of a negotiation is roll over and do what i ask. we need to find common ground and we need to find it quickly. >> and again, because you kind of didn't answ
i'm offering 98% a tax cut of $2,000 a year. you are the party of lower taxes. are you going to refuse to cut people's tacks? >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> so you have been around this town a long time, you have been in a lot of negotiations, what is there game?...
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Dec 5, 2012
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CURRENT
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they are saying capital and income from capital should be taxed the same way we tax earned income. that is a fundamental in equity in our tax code. >> that's right. this country in its economy he has done well when we've had policies that have promoted middle class expansion. this is good for capital. franklin roosevelt for all of understanding, he said if you don't have a middle class that works, you won't have an economy for the rich. there's a narrow mindedness that i've got mine and i want more and i'm take it from you if that's what it takes. american economic policy works best when it's building a middle class. >> you go back to henry ford, who is no legal tarian at heart. he said if my workers can't afford to buy the cars they're building i won't be able to sell them to everybody and wanted to raise wages. you have been a proponent of going over the cliff basically saying we're not going to cave because of the threat. do you still hold that position and is there support in the democratic party for it? >> there is. we're not in favor of going over the cliff we're in favor of
they are saying capital and income from capital should be taxed the same way we tax earned income. that is a fundamental in equity in our tax code. >> that's right. this country in its economy he has done well when we've had policies that have promoted middle class expansion. this is good for capital. franklin roosevelt for all of understanding, he said if you don't have a middle class that works, you won't have an economy for the rich. there's a narrow mindedness that i've got mine and i...
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Nov 29, 2012
11/12
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CNBC
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anything above $2,500 will be taxed and the rest will be taxed. they are going to be playing $10,000, $12,000 more per year taxable rate to get their kids per school. >> and they're always talking about how the republicans want to destroy the study for autism. but here it is black and white in the obama. we appreciate it. it's great to see you. >> thanks for having me. >> now to the lottery frenzy. there's already a winner in this game. the government. not good. we're going to explain when "the kudlow report" comes right back. >>> if everything on the fiscal side caves, what incentive is there for tax reform in 20 13? >> ups believes congress does need to move very quickly to get this done. >> there are going to be many moments when it seems like there's a deal and then there are people who fight the deal, which is why we have been featuring the notion of rising above. >> all sides could lose if an agreement isn't arrived upon. music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all
anything above $2,500 will be taxed and the rest will be taxed. they are going to be playing $10,000, $12,000 more per year taxable rate to get their kids per school. >> and they're always talking about how the republicans want to destroy the study for autism. but here it is black and white in the obama. we appreciate it. it's great to see you. >> thanks for having me. >> now to the lottery frenzy. there's already a winner in this game. the government. not good. we're going to...
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Dec 3, 2012
12/12
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first taxes don't data. what about taxes. his take on the cliff hanger and why investors shouldn't worry about taxes. and dell trade or trap? goldman jumps on the band wagon. 2012 gold rush. why are americans stocking up on gold coins? is it another way to say diversify? we have to get straight to our top story and tonight that is will the cliff ruin christmas? the rhetoric cnbc has the latest including the white house response to the gop proposal. >> just within the past few minutes we have gotten the white house's response to the boehner counter proposal to the white house proposal last week. the white house doesn't like the proposal from bane kpp today. dan fifer saying the republican la letter does not meet the balance and sticks the middle class with the bill. clearly what we are seeing is a negotiation. the white house doesn't like what they have been presented and now the offers and counteroffers will continue to fly and will start to get a little more close to one another. neither one of these as they have been laid o
first taxes don't data. what about taxes. his take on the cliff hanger and why investors shouldn't worry about taxes. and dell trade or trap? goldman jumps on the band wagon. 2012 gold rush. why are americans stocking up on gold coins? is it another way to say diversify? we have to get straight to our top story and tonight that is will the cliff ruin christmas? the rhetoric cnbc has the latest including the white house response to the gop proposal. >> just within the past few minutes we...
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Dec 2, 2012
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>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, y
>> well, don't tax you, don't tax me, tax the guy behind the tree. >> paul: russell long, former late senator. >> exactly. and what you see here are very wealthy people who can, you know, engineer ways to avoid taxes, meanwhile, what he's-- the medicine he's suggesting for people who are starting to do better, people who say, make $200,000, maybe working their whole life. they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and...
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Nov 29, 2012
11/12
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FBC
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tax everybody at same rate and tax at lower rate. liz: sheila, the thesis of your idea, why you're on today, talk about forget congress and the president for a moment, congress wall street has to step up. special treatment they get has to stop. what is your idea of wall street and how it should get involved? >> that would be one big one. that is 90 billion a year i believe. there is another question whether we should subsidized excessive leverage at some of these financial institutions. right now the tax code actually gives financial institutions a financial incentive to fund themselves by borrowing a lot of money as opposed to funding themselves with shareholder equity. so some have suggested capping that. if you're levered over certain percentage or number of ratio, 12 to one i suggest, you don't get interest deduction. another way to do it which would be more expensive, equalize treatment of interest and dividends to deduct dividends. that might mate i can more palatable for some to stop treatment for income. but, i think those, t
tax everybody at same rate and tax at lower rate. liz: sheila, the thesis of your idea, why you're on today, talk about forget congress and the president for a moment, congress wall street has to step up. special treatment they get has to stop. what is your idea of wall street and how it should get involved? >> that would be one big one. that is 90 billion a year i believe. there is another question whether we should subsidized excessive leverage at some of these financial institutions....
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Dec 1, 2012
12/12
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KQED
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everybody here, you'll see your taxes go up on january 1. and it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle-class tax cuts hostage simply because they don't want tax rates on upper-income folks to go up. gwen: house speaker john boehner's response, no way. they are, he said, at stalemate. >> the white house spends three weeks trying to develop a proposal, and they send one up here that calls for $1.6 trillion in new taxes, calls for a little -- not even $400 billion in cuts, and they want to have this extra spending that's actually greater than the amount they're willing to cut. i mean, it was not a serious proposal. and so right now we're almost nowhere. gwen: both ends say americans voted for growth and responsibility during the last election, but each apparently is read looking the same message differently. what a surprise. so how much of the policy is about standoff and how much is about politics? >> it's a little bit of each. but i would have to say right
everybody here, you'll see your taxes go up on january 1. and it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle-class tax cuts hostage simply because they don't want tax rates on upper-income folks to go up. gwen: house speaker john boehner's response, no way. they are, he said, at stalemate. >> the white house spends three weeks trying to develop a proposal, and they send one up here that calls for $1.6...
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Dec 1, 2012
12/12
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the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families. that's already passed the senate. your members of congress, like allyson and chaka, other democrats in the house, they're ready to go, they're ready to vote on that same thing. if we can just get a few house republicans on board, we can pass the bill in the house, it will land on my desk, and i am ready, i have got a bunch of pens ready to sign this bill. >> 30 minutes after the president was finished, house speaker john boehner held a press conference, and he left unanswered the president's call for decoupling that 98% from the richest 2%, and he gave a pessimistic assessment of the si
the taxes will go up for the top 2%. obama's job number one, a tax cut for the 98%. the rest of the people. let's listen to him. >> it's not acceptable to me and i don't think it's acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. all right? that doesn't make sense. the senate has already passed a bill to keep income taxes from going up on middle class families....
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why not raise rates on rich, fight for a simp her tax system that -- simpler tax system that might provide lower taxes down the road. >> well we need to demand concessions on spending. neil: we're not getting them. >> that is the point, so putting up taxes is not a way of getting concessions in the future. neil: from the get go they put up that 800 billion figure. >> a starting point, the problem is that, as you know, not only will the democrats want more in taxes, but they have in place, with this horrible deal that was done a year and a half ago with debt sealing that gives deal -- there is a deal in place. and it recalls that fiscal cliff, but the deal of made a year and a half ago, the republicans, democrats and president signed off on this, allowing tax increases to go back in place. and they signed on to half a trillion in cuts, in domestic programs and half a trillion in defense, understand what this is as a conservative, defense is 16% of the budget. other 84% gets half a trillion, defense getting half a trillion. the democrats are welcoming this to happen. >> the guy who ran secon
why not raise rates on rich, fight for a simp her tax system that -- simpler tax system that might provide lower taxes down the road. >> well we need to demand concessions on spending. neil: we're not getting them. >> that is the point, so putting up taxes is not a way of getting concessions in the future. neil: from the get go they put up that 800 billion figure. >> a starting point, the problem is that, as you know, not only will the democrats want more in taxes, but they...
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Dec 1, 2012
12/12
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there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim from twitter says -- guest: absolutely. a lot of these credits and deductions, the standard deduction exceeds what you would get, that you just take that. host: the specific credits we have been talking about prompt a question from cindy. guest: yes. you generally have to be working are working outside the home. host: is there an hour requirements? guest: there are a lot of specific requirements. host: kay from richmond, virginia. caller: if somebody is working as hard as they can and making less than $50,000 a year, they count on this refund every y
there is also other taxes like gasoline tax, phone tax. we pay a lot of money to foreign countries that we do not need to. as i think about taxes. guest: this is kind of one of the ideas that republicans talk about, and democrats talk about when we talk about moving to tax reform. it is getting the individual provisions. right now it is a complicated mess. the kind of start over with a simple system that has a few income brackets. easier said than done. that is one of the goals here. host: jim...
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Dec 6, 2012
12/12
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MSNBC
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licensed by the state and paying taxes to it. this, all while the federal government still views possessing and certainly growing, selling, and distributing marijuana as serious felonies. how's that going to work is the big question that hangs over whatever celebrations the citizens of washington might engage in tomorrow. on a side note, tomorrow is also the first day that same-sex couples will be able to get marriage licenses in washington. then on sunday, they will actually be able to tie the knot. that was another huge stage washington state voters approved in the last election. if you are betting on how this country will evolve in the next few decades in terms of politics and policy, two safe bets. marriage equality and marijuana. both of those policies go into effect tomorrow in washington. the truly fascinating thing here is that starting tomorrow, we will see an abstract debate, an abstract policy discussion that we've had for many years. should pot be legal? how might it change society? how might it improve it? we'll see
licensed by the state and paying taxes to it. this, all while the federal government still views possessing and certainly growing, selling, and distributing marijuana as serious felonies. how's that going to work is the big question that hangs over whatever celebrations the citizens of washington might engage in tomorrow. on a side note, tomorrow is also the first day that same-sex couples will be able to get marriage licenses in washington. then on sunday, they will actually be able to tie the...
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Dec 3, 2012
12/12
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FOXNEWSW
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tall tax rates will go up. we will then enact tax cuts for 98%. we will get congratulations from the american people. >> keeping and adding back tax cut for those above $250,000, 9 #% of income would add $37 trillion in ten years and would only save $800 billion or so from raising rates on higher incomes. democrats complain the republicans didn't pay for bush tax cut and no one on the democratic side is talking about finding the off-setting savings now to extend them. several democrats contemplated going over the cliff in recent days. perhaps in hopes of gaining leverage. >> if the republicans don't agree with that, we reach a point where all the tax cuts expire and we start over next year. >> form every republican senate aide said it would be hard to blame one party. >> i think they realize that both sides will be culpable if we go over cliff. >> house speaker john boehner says going over the cliff is far too dangerous to the economy. nevertheless, even treasury secretary geithner suggested on fox news sunday that republicans might need more time
tall tax rates will go up. we will then enact tax cuts for 98%. we will get congratulations from the american people. >> keeping and adding back tax cut for those above $250,000, 9 #% of income would add $37 trillion in ten years and would only save $800 billion or so from raising rates on higher incomes. democrats complain the republicans didn't pay for bush tax cut and no one on the democratic side is talking about finding the off-setting savings now to extend them. several democrats...
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Dec 4, 2012
12/12
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raising taxes. but also he did it in a way that grew the economy and the nation prospered and the debt became no big deal and then the debt was gone and the debt clocks that were supposed to be scary got shut off. that was because of prioritizing economic growth and being willing to raise revenues. look when we started growing again after the recession. it was not long after the stimulus kicked in. the government spent money and the economy grew. that's how it works. that's why it used to be a beltway consensus when the economy needed to e grow, you needed economic stimulus in terms of your fiscal policy. now the discussion about how we need to make sure we contract the economy and cause as much pain as possible to the people who will be hurt the most by that contracting, maybe that makes sense on sunday morning, but the rest of us go to work during the week and sometimes we go to parties. right now as we speak, here's the scene in washington. at the white house, which bo obama has shown us what it
raising taxes. but also he did it in a way that grew the economy and the nation prospered and the debt became no big deal and then the debt was gone and the debt clocks that were supposed to be scary got shut off. that was because of prioritizing economic growth and being willing to raise revenues. look when we started growing again after the recession. it was not long after the stimulus kicked in. the government spent money and the economy grew. that's how it works. that's why it used to be a...
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we live and die by property taxes and sales taxes and they are all coming in shorter than anticipated. basically because the property values in detroit. it is starting to pick up in michigan. we just need a little bit more time in order to get our financial house in order. in order to grow our economy. gerri: i have heard that before. we need more time to get our fiscal house in order. wouldn't it make more sense? i know that you are probably playing all kinds of different groups. all kinds of different political groups who want to have their voice heard. wouldn't it make more sense to come in and have the state on this thing -- the thing that we will fix this thing and get it done. >> unfortunately, they can't unilaterally change them. so the financial emergency manager coming into detroit, setting us back a year. we just need to have the political will make these decisions and get it done. we have the political will to get it done. i don't want to sound like a broken record, but it is as simple as that. an emergency manager can do anymore than what we are doing right now with the to
we live and die by property taxes and sales taxes and they are all coming in shorter than anticipated. basically because the property values in detroit. it is starting to pick up in michigan. we just need a little bit more time in order to get our financial house in order. in order to grow our economy. gerri: i have heard that before. we need more time to get our fiscal house in order. wouldn't it make more sense? i know that you are probably playing all kinds of different groups. all kinds of...
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Dec 5, 2012
12/12
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CNNW
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first, when i was there, it was the president who had made the no tax pledge. president bush the first, as you'll recall, made a very famous no tax pledge which he eventually backed off of. in this case, it's the congress. the republicans in the congress specifically, who have made the tax pledge, and the president who is trying to get them to break it. secondly, the numbers are very much reflecting the passage of time. we were very concerned because we thought the budget was going to be -- the deficit was going to be about $150 billion. that shocked everyone into action. then, unlike now, there remains some degree of bipartisanship. there was comity, there was discussion, even as we battled over the budget, we worked together in a bipartisan way on many other issues. you didn't have the total polarization that you have today. >> i mean, when you were elected senate majority leader, i understand one of the first people that you called was the minority leader, senator dole. >> that's right. i called him right away, i went to see him almost immediately, and i sai
first, when i was there, it was the president who had made the no tax pledge. president bush the first, as you'll recall, made a very famous no tax pledge which he eventually backed off of. in this case, it's the congress. the republicans in the congress specifically, who have made the tax pledge, and the president who is trying to get them to break it. secondly, the numbers are very much reflecting the passage of time. we were very concerned because we thought the budget was going to be -- the...
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Dec 6, 2012
12/12
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news the president a little more than an hour ago went to northern virginia to push the middle class tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good for families like this one's. >> and this actually appears to be working. a new poll shows the president is running ahead of the boehner-led republican team. what about basketball you say? we go to charlotte last night, and the knicks treasury secretary, carmelo anthony, top paid and big star got hurt in this dive and had to leave the game. then the at the end it came down to this. >> looking for felton and finds smith. two seconds, one second. smith for the win. >> game over. no overtime. deal, end game, done. is this meaningless nba game in charlotte lead us to how the fiscal fiesta ends? we have a man
news the president a little more than an hour ago went to northern virginia to push the middle class tax cut message by spending time with an actual middle class family. >> the message that i got from tiffany and the message that i think we all want to send to members of congress is, this is a solvable problem. i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%, but i do remain optimistic that we can get something done that is good...
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Dec 6, 2012
12/12
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MSNBCW
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an obsess to raise taxes is not going to solve the problem. >> for mr. cantor this is an obsession, but for one conservative commentator who appeared on this broadcast yesterday, it's even worse. >> president obama has this fetish of we've got to raise the rates on the top two because we're going to raise the deficit. >> who knew a balanced approach could be characterized as an obsession that evokes an erotic response. what this is about is the president drawing attention to a dirty little secret, their own fetish that republicans just don't like to hear ventilated in public. according to the congressional budget office in the years since 1979 as federal taxation has become less progressive, the income of the top 1% has grown by over
an obsess to raise taxes is not going to solve the problem. >> for mr. cantor this is an obsession, but for one conservative commentator who appeared on this broadcast yesterday, it's even worse. >> president obama has this fetish of we've got to raise the rates on the top two because we're going to raise the deficit. >> who knew a balanced approach could be characterized as an obsession that evokes an erotic response. what this is about is the president drawing attention to a...
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Dec 4, 2012
12/12
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CNBC
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for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every day that goes by after january 1st isn't going to look like that big of a deal and essentially, time will run out for both parties, you will have a lot of problems in 2013, they will take the lion's share away from fiscal dealmaking, senate confirmation, have the debt ceiling, the long-delayed nuclear negotiableses with iran, going to have posturing for the 2014 campaigns. all of those things are going to suck out the moment up that we have right now. so, yes, democrats are not as bad off as the republicans, but that doesn't mean they should be waiting either. >> i
for is tax cuts and not an argument you are raising taxes on someone. for all those reasons, the democrats have a lot of leverage in january but that does not mean the democrats should wait till january, what happens after december 31st is everybody can lose. the kind of pressure we have psychologically and politically right now to get a deal done before we hit 2013, that kind of pressure and deadline pressure and momentum you're not going to have after you're over the fiscal cliff. so every...
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Dec 1, 2012
12/12
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CURRENT
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they paid a negative income tax. we paid duke energy instead of them paying taxes. the guy seems to be so relevant into this fiscal cliff grand bargaining negotiations is grover norquist. did you this story about who is behind grover norquist, and who he really represents, and i think that's a really interesting story. who is the money behind grover? >> well, grover norquist is an interesting guy. he's obviously captured the minds and the attention of the entire republican party. but i would like folks to look at him a little bit differently. if you look at grover norquist's budget because he has a large foundation that enforces his pledge. two-thirds of his money, 66% of his budget comes from only two billionaire-backed non-profits groups founded by folks like the koch brothers, the bekdel corporation and karl rove. they're worth billions of dollars who would not like to see their tax rates go up. it should not be any surprise that they're giving money to norquist as their enforcer. >> cenk: a lot of those are in private equities and defense and, etc. shockingly th
they paid a negative income tax. we paid duke energy instead of them paying taxes. the guy seems to be so relevant into this fiscal cliff grand bargaining negotiations is grover norquist. did you this story about who is behind grover norquist, and who he really represents, and i think that's a really interesting story. who is the money behind grover? >> well, grover norquist is an interesting guy. he's obviously captured the minds and the attention of the entire republican party. but i...
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Nov 30, 2012
11/12
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KQED
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and moreover the threat to increase taxes in 2013, taxes on difficult dengeds would be about give or take 44%. and this year dividend would be taxed at 15. so that's a big incentive to pay difficult dejds early. and that's what we did. we paid them in 2012. >> yeah, you moved up a dividend. you would have paid in january for december. but you also added 1.14 a share in a special dividend in which will borrow money to pay. why do a special dividend on top of your regular accelerated dividend? >> we did it one, to share with our shareholders. some of the good fortune and profits that we have had over the years. we've been extremely profitable company. normally we keep money back to make acquisitions. but we thought that we could afford to pay $1.14 dividend. and it wouldn't impinge upon our ability to grow, to make acquisitions or to constrain the company in any way. heico is not a capital constrained company. some people suggested we pay more than $1.14, maybe 2 boy 50. >> was that unconsideration. >> it was under consideration because in our dividend policy we consider many different
and moreover the threat to increase taxes in 2013, taxes on difficult dengeds would be about give or take 44%. and this year dividend would be taxed at 15. so that's a big incentive to pay difficult dejds early. and that's what we did. we paid them in 2012. >> yeah, you moved up a dividend. you would have paid in january for december. but you also added 1.14 a share in a special dividend in which will borrow money to pay. why do a special dividend on top of your regular accelerated...
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Dec 7, 2012
12/12
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cuts to protect tax cuts for the very wealthy. that's not where they want to be and somewhere deep inside they know that. >> secretary solis, no matter who they voted for, americans are clearly saying that they want compromise and even if it means accepting policies they don't necessarily agree with. 59% of obama voters want compromise. 54% of romney voters want come pro-might. you've told people they should call their congressman and senators. >> yes. >> should they tell them, let's act like adults and work this out? >> absolutely. and what is really most important is that the public has spoken. we just got through an election and now is the time for people to come together. the president has extended an olive branch. he continues to do that and all of us are working day and night until we get there. i know it's in the best interest of our economy and the world. everyone is looking to the united states for leadership and this president has exerted so much leadership, we need to continue that. it's not one party benefiting over an
cuts to protect tax cuts for the very wealthy. that's not where they want to be and somewhere deep inside they know that. >> secretary solis, no matter who they voted for, americans are clearly saying that they want compromise and even if it means accepting policies they don't necessarily agree with. 59% of obama voters want compromise. 54% of romney voters want come pro-might. you've told people they should call their congressman and senators. >> yes. >> should they tell...
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Dec 2, 2012
12/12
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FOXNEWSW
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it's the largest tax increase in american history. what i think we can do, and what would make the most sense since both sides seem to be dug in, let's build a bridge over the fiscal cliff, temporary bridge that says, you know, we will extend the tax cuts. you know, we'll reduce the spending cuts, especially in defense. we've going to do it for three months, six months. then we can have some time to look at this responsibly. remember, congress and the president never do anything that close to a good job if they are on a deadline or rush timetable. you know, we got obamacare because of that. that is going to prove a mess. we have gotten all kind of tax deals where things never really materialize. you know, ronald reagan had such a deal at the last minute in 1982, and out of every 100 cents of spending restraint he only got 75 cents because the deal was written so badly went need to take the time on this and not view december 31 as arbitrary deadline. >> jamie: it would be great if we did things in steps. i thought about this with the i
it's the largest tax increase in american history. what i think we can do, and what would make the most sense since both sides seem to be dug in, let's build a bridge over the fiscal cliff, temporary bridge that says, you know, we will extend the tax cuts. you know, we'll reduce the spending cuts, especially in defense. we've going to do it for three months, six months. then we can have some time to look at this responsibly. remember, congress and the president never do anything that close to a...
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Nov 29, 2012
11/12
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CURRENT
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own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and write it off in their taxes $20 million a year ceos from these corporations, and continue to spread the hysteria and--and if their plan goes through the austerity plan, they and their company and their bonuses are actually the only thing that is going to improve in this economy. >> eliot: as they have over the past couple of years. income disparity is worse and worse and incomes are going up. lloyd blankfein telling people that they people should not expect to work for 25 years and then retire for 30. i don't think he understands what social security is all about. >>> the hispanic caucus said no today on a repub
own taxes. it's a sham and they ought to be rolled out of town if people understand what they were talking about. >> if people are worried about how they're going to take care of the homeless, how schools will be able to accommodate 30 kids in the class rom how people will be able to make ends meet when unemployment disappears. they can't be here. they can't afford it. they come here and write it off in their taxes $20 million a year ceos from these corporations, and continue to spread...
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Dec 3, 2012
12/12
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KTVU
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are the party of lower taxes, are you going to refuse to cut people's taxes? >> listen, nobody wants to go over the cliff. that is why the day after the election i tried to speed this process up by making a concession to put revenues on the table. and it is unfortunate that the white house spent three weeks doing basically nothing. >> chris: you have been around this time, a long time and have been through a lot of negotiations. what is their game? what is their thinking as to how they will work -- well, they figure they won and they will get what they want? >> i have no idea, chris. if i knew, i would share it with you. i don't know what they are thinking. >> chris: do you think they are being bullies. >> i think they've won the election and must have forgotten republicans continue to hold a majority in the house. but, you know, the president's idea of a negotiation is, will they do what i ask. we need to find common ground and need to find it quickly. >> chris: and, again, you kind of didn't answer it the first time, what are the chances we'll go over the cl
are the party of lower taxes, are you going to refuse to cut people's taxes? >> listen, nobody wants to go over the cliff. that is why the day after the election i tried to speed this process up by making a concession to put revenues on the table. and it is unfortunate that the white house spent three weeks doing basically nothing. >> chris: you have been around this time, a long time and have been through a lot of negotiations. what is their game? what is their thinking as to how...
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Dec 4, 2012
12/12
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CURRENT
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the payroll tax cut will expire. if you're a working person, you're losing $40 to $50 a week immediately in your first paycheck. the unemployment benefits will expire. if you're dependent on that, your income will fall off the cliff. if you're someone who listens on dividends and financial gains, the fact that tax on those will rise will not put a crimp in your lifestyle and you may not be taking any capital gains until june, july, august, september. those who are most vulnerable are those on the lower income ladder and who are benefiting from the benefits that will expire, they will feel like they're going over a cliff. >> eliot: brian, let me turn to you, politically am i not correct? the pieces of the tax impact that dan was just talking about that would have the greatest impact are the pieces that are the least likely to be extended under any deal. the payroll tax there seemed to be a consensus that there would not be an extension of the payroll tax cut because that is so necessary to funding social security. tha
the payroll tax cut will expire. if you're a working person, you're losing $40 to $50 a week immediately in your first paycheck. the unemployment benefits will expire. if you're dependent on that, your income will fall off the cliff. if you're someone who listens on dividends and financial gains, the fact that tax on those will rise will not put a crimp in your lifestyle and you may not be taking any capital gains until june, july, august, september. those who are most vulnerable are those on...